Our services:
- Coverage of claims for damages
- Assumption of legal fees and costs of litigation
- Protection against financial losses
- Crisis management and PR consulting
- Protection against claims from shareholders, employees or business partners
Directors & Officers Insurance
Directors & Officers (D&O) insurance is an insurance policy for executives in companies. It protects them against personal liability risks that may arise from their activities.
These are risks that may arise from management, corporate governance or supervisory board activities.
D&O insurance provides cover in the event that an executive is held responsible for a loss and must accept personal liability for it. In this case, the insurance covers the claims for damages and any legal fees and costs of litigation that may be incurred.
It should be noted here that a D&O insurance policy does not provide protection for intentional or, in some cases, grossly negligent acts committed by executives. However, a good D&O insurance policy should offer the most comprehensive coverage possible and be tailored to the specific needs of the company.
Typical examples of damage
Typical examples of losses for which D&O insurance can cover include:
- Violation of due diligence
- Violations of laws or regulations
- Wrong decisions in management
- Misappropriation of funds or fraud
- Copyright infringement
In these cases, claims for damages may be made directly against the manager.
Without a D&O insurance policy, in the worst case scenario, they would be forced to pay for the damage with their personal assets.
D&O insurance is particularly recommended for companies and industries in which the liability risks for executives are especially high. These include, for example, companies with a high:
- Number of employees
- Dependence on technology
- Dependence on regulatory requirements
- public perception (e.g. media or sports companies)
Companies undergoing restructuring processes or aiming for a stock exchange listing should also consider D&O insurance. In any case, an individual risk assessment should be carried out to check whether a D&O insurance makes sense.
The amount of coverage and the premium for D&O insurance depend on various factors, such as the size of the company, the industry in which it operates, and the number of executives.
The amount of the insurance sum should be coordinated so that it is sufficient to cover the damage in the event of an emergency. If the sum is too low, the company may incur additional liability in the event of a loss. D&O insurance is an important safeguard for executives to protect themselves against the personal liability risks associated with their activities.
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